March 11, OctaFX – Bitcoin is moving closer to key trendline resistance in early-week trading, with the number one cryptocurrency pressing against the $3,900 level.
Bitcoin price analysis: BTCUSD strongly bullish
If bulls can edge price above this key technical area, the BTCUSD pair could easily advance towards the $4,200 and $4,400 resistance levels. Should we see key upside resistance holding, the BTCUSD pair will likely move lower towards the $3,800 and $3,700 support levels.
The BTCUSD pair is strongly bullish while trading above the $3,900 level, key technical resistance is found at the $4,200 and $4,400 levels.
If the BTCUSD pair fails around the $3,900, sellers may test towards the $3,800 and $3,700 support levels.
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